It is widely known and understood that prospects and customers begin their online product search on a search engine or on Amazon. In fact, according to a survey by PowerReviews 35% of customers begin their search on Google and 38% on Amazon.
Customers are looking for convenience when considering a purchase. Most prefer to search online rather than talking to one of your sales reps or walking into a store. Depending on the industry, as many as 80% of customers have researched their product purchase online before they even talk to you.
To take advantage of these growing customer habits, you must ensure that your products are findable through online search engines. Here are three tips to help make that happen.
When a prospect enters key words into the search field in Google or Amazon or another vendor site, how will they know that the best results will be presented? What can be very frustrating for the prospect, and a lost customer for you, is when no suitable results are presented. What the user will see will be the results crafted by the best search engine optimizers, pay-per-click managers, and feature advertisers. What the user is not necessarily seeing are the results that meet their needs.
We understand that search engine ranking is important, but consider this: What it you reallocated some of the resources spent on SEO or PPC advertising and used it for producing and displaying great content? What if you really let your products tell their stories? Not only would you be rewarded by Google’s website crawlers organically for having great content, but also your potential customers would find your products more easily and buy from you. In addition, as you review key word usage on your site, you will be able to more appropriately refine your key word selection through a feedback loop to reflect the words that your customers use to find products on your site. Read more on this topic.
Once a potential customer has found your site, you want them to be able to find suitable products within your assortment quickly and easily. By setting up a great taxonomy within inRiver, your products and associated attributes will be organized and properly classified, assisting users in being able to efficiently search and filter for the SKU that best meets their needs.
Read more on taxonomy and how it benefits your downstream channels in this blog by our partner, Earley Information Science.
Product Up-sell and Cross-sell
One way your business adds value is by helping customers make informed purchasing decisions. This does not just apply to the way you promote single products ― it also applies to the way you cross-sell and up-sell.
When you have high-quality information—categorized and tagged appropriately—it is easy to show customers how to combine complementary products. You gain a competitive advantage and increase revenue because you give your customers an in-depth understanding of the product and guide them toward the ideal solution for their needs.
When you deploy inRiver Product Marketing Cloud, you are able to quickly and easily create product assortments and relationships—in the manner of a “look book” for retailers or “additional parts and services” for B2B vendors. Contact us for a demo!
Kathryn Zwack, Senior Content Marketing Manager, inRiver
You are likely already aware at the speed at which the B2B e-commerce market is growing. While the B2C market is expected to be about $523 billion annually by 2020, the B2B market in the US is expected to be nearly double that at $1.1 trillion, according to the Forrester/B2BecNews Q1 2017 B2B Buy-Side Online Survey.
Along with this rapid growth, you have also likely heard about the many disruptors in the B2B market.
Disintermediation of supply chains is resulting in competition between former partners, as new partnerships form. Enterprises practicing ”business as usual” may find themselves with slimmer margins or being squeezed out of the channel altogether. Amazon Business is growing at 20% per month and already has more than 30,000 vendors signed on. With all these choices and the ability to rapidly price shop, brand loyalty is also taking a nose-dive.
On top of all of these changes, B2B buyers are behaving differently from how they used to. They are, in fact, acting more like B2C shoppers, which is who they are when they aren’t at work. Sixty-seven percent of ‘Millennial generation’ B2B buyers prefer to shop online, compared with 51% overall. Ninety-two percent of US buyers have used Amazon to research a work-oriented purchase and 74% confirm that buying online is more convenient that buying from a sales rep.
The takeaway is simple: B2B buyers now expect a rich e-commerce experience, each and every time.
Get Ahead with the Best Product Information
It is no surprise that B2B buyers begin their product search on Google or, increasingly, on Amazon. What may surprise you is where they complete their search and where they ultimately buy. You got it—it is where they find the best product information. Great product information is good for your top and bottom line!
So, What’s Next?
If you would like to continue delving into these data and insights, please join us to continue the discussion on July 20 at 1 PM CDT. Together with our partner, DATAgility, we are hosting a webinar to talk about:
Register now for the webinar, Why Manufacturers Need PIM in Their E-commerce Stack on July 20, 2017 at 1 PM CDT, hosted by DATAgility and inRiver. Hear more aboutthe changes in the B2B online marketplace and how you can ensure that you are doing everything you can to give your customers the best digital experience possible.
Kathryn Zwack, Senior Content Marketing Manager, inRiver
Today, customers have access to all your competitor’s stories at a click of a button and tap of a screen. Even when they’re standing in front of the shelf in store, they can be comparing prices and features on mobile. This means bringing products to market as fast as possible – and catching them in that purchasing micro-moment – is your competitive advantage.
Using the right Product Information Management (PIM) tool increases speed to market from days or weeks to just a few hours, making products purchasable much faster. And the more opportunity of choice with relevant products you can offer customers a when they’re searching, the more revenue you generate and the more loyalty you build.
Jimmy Ekbäck, Executive Vice President Product & Services, inRiver